Liberia’s new President George Weah has set up a nine member panel to review concessions entered into by previous administrations.
Concessions generally cover government grants of rights, land or property.
The committee would “review and ensure that all contracts entered into by the government of Liberia and concessionaires are executed according to agreed-principles via Liberia-laws.”
It will also determine if the those agreements had been fully implemented and met their performance requirements.
During the 12-year rule of Weah’s predecessor, Ellen Johnson Sirleaf, the government attracted around 15 billion dollars in foreign investment, according to a finance ministry report.
However, the West African nation has been criticised by watchdog groups for signing away much of its public land to logging, palm oil and natural rubber companies.
Sirleaf’s government sought to develop iron ore deposits and the offshore oil sector. (Reuters/NAN)